The condo board of the glass tower at One Central Park West on Tuesday voted unanimously to retain the Trump name on the signage at the front of the building, the New York Post reports. However, the word “tower” will be removed from the marquee over the front entrance, to be replaced with the building’s address. As 6sqft previously reported, as part of a larger renovation of the Trump International Hotel and Tower in Columbus Circle, the Trump Organization was reconsidering its heavily-branded signage, and some building owners say Trump’s polarizing presidency is depreciating the value of their investments.
1 Central Park West
Image via Flickr
As part of a larger renovation of the Trump International Hotel and Tower in Columbus Circle, the Trump Organization is expected to reconsider its heavily-branded signage, the New York Times reports. The president’s eldest son, Donald Trump Jr., has proposed a compromise to appease building owners who say Trump’s polarizing presidency is depreciating the value of their investments without losing the Trump branding entirely.
As we close in on Donald Trump‘s first full year as President, it’s interesting to look at his business endeavors have fared, and here in NYC, it looks as though the Donald’s real estate empire is starting to crumble. According to CityRealty’s Year-End Manhattan Market Report, both average sales price and average price per square foot at the 11 Trump-branded condos fell below the Manhattan condo average for the first time ever. Not surprisingly, the Trump International Hotel & Tower on Central Park West was the worst-performing, with average prices falling 27 percent. One of the company’s most visible buildings, the condo was often the site of protests against the Trump administration throughout the year.
A top-floor apartment at Trump International, awash in marble, has been price chopped down to $27.5M, Sun, November 12, 2017
Extravagant is the word to describe this 47th-floor apartment at Trump International, the 52-floor hotel/condo hybrid on the corner of Central Park West. The owner snatched up the 6,360-square-foot home in 2008 and has been recently delivering a number of price cuts to unload it. In 2016, the pad was asking $40 million. That number went down to $34.5 million this April, and now it’s finally landed at $27.5 million–a 31.5 percent markdown from its original ask. For all that money, however, you’re getting Central Park views, four distinct types of marble flooring, and a master bathroom decked out in Lapis Lazuli stone hand-picked by European craftsman.
These days, New Yorkers are going to great lengths to get Trump’s name off their buildings, and even his company itself has personally shed his moniker from their hotel brand amid declining bookings. But back in the ’80s and ’90s, the Donald would freely slap his name on just about anything he wanted. That is until 1996, when the Giuliani administration (sense the irony here?) denied his request to brand the giant globe outside the Trump International Hotel & Tower. The Times recently got its hands on a 20-year-old City Planning Department memorandum that outlines how the agency deemed any lettering on the sculpture illegal.
Though we’re not sure about composer Andrew Lloyd Webber‘s political leanings in this country (he’s a Conservative in Britain), he sure does seem to love some Donald Trump real estate. The Observer reports that the British musical theater impresario has dropped $7.6 million on a two-bedroom 35th-floor unit at Trump International in an off-market deal. He and his wife Madeleine already own another adjacent unit on the same floor in the Central Park West tower, which they bought in 2012 for $5.8 million after selling a Trump Tower duplex for $16.5 million in 2010.
The Donald has no shortage of high-rise real estate accolades, but the Trump International Hotel & Tower, located at 1 Central Park West, is considered by many one of his most successful developments. Adapted from a former office tower in 1997, it soars 44 stories above Columbus Circle with stunning views of Central Park and the Hudson River. The lower 22 floors are occupied by a hotel, while the upper 22 contain 158 modern, sunny private residences that are nothing short of trump-tacular.
Unit 23D, which recently sold for $8.55 million through Ido Berniker at Mercer Partners, is no exception to the billionaire-worthy design. The 3BR/3.5BA apartment has 10-foot ceilings, as well as sleek modern finishes that really make the interior shine.